Coinjar Launches Australia’s First Crypto Index Fund

Coinjar, a financial and cryptocurrency services company based in Australia and the United Kingdom that claims to have processed over $ 1.2 billion in virtual currency transactions, has announced the launch of Australia’s first cryptocurrency index fund. Read more...

I was discussing bitcoin with an investor yesterday and he replied somewhat dismissively ‘It’s just like buying gold.’ No, it’s like buying gold in 1000 B.C. 99% of the financial wealth has yet to address bitcoin.

Morehead believes the logic is still true. His predictions were made when Bitcoin 00 had a spot price of $ 100 and a market capitalization of $ 3 billion.Read more...

Hedge fund Tetras Capital has issued a bearish call on ethereum and opined that bitcoin has more upside potential. The New York-based fund has been blessed with perfect timing, with ETH falling in BTC terms following the publication of its report 24 hours ago, while bitcoin has rallied strongly.

In this week’s editions of Bitcoin in Brief we’ve covered a number of interesting developments in the crypto space. Several prominent exchanges have announced plans to increase their presence in new markets and locations, while a newly launched platform aims to rate them according to their liquidity, security, and volume. The weekly roundup also mentions a $ 300 million venture fund launched by Andreessen Horowitz, a new crypto vault offering safe storage in Switzerland, a patent promising to prevent the next Mt. Gox, and more.

On June 27, 2018, Coinbase CEO Brian Armstrong announced his new cryptocurrency charity fund, GiveCrypto. Armstrong established the philanthropic venture to financially empower people with direct cryptocurrency distributions. Armstrong and partner Rose Broome, previously co-founder and CEO of HandUp.org, have already raised $ 1 million from prominent cryptocurrency community members. They plan to raise $ 10 million by the end of 2018 and $ 1 billion over a two-year time frame.

Purpose

The nonprofit’s mission is to give 100 percent of its cryptocurrency contributions to impoverished people, an altruistic goal that simultaneously drives cryptocurrency’s real-world utility. Read more...

Andreessen Horowitz has launched a $ 300 million crypto fund dedicated to investing in cryptocurrencies and other blockchain-related projects.

The fund, named a16z crypto, signals that the firm is diving deeper into the cryptocurrency space to grow its existing portfolio, which includes digital currency exchange Coinbase.

In a statement posted on the company’s blog, general partner Chris Dixon states that the a16z crypto fund provides the firm with the flexibility to invest in any area of its choosing from traditional equities to digital tokens. As a result, the firm will be able to invest in both companies and the tokens those companies create. Read more...

While short term investors and speculators might not be in the best of shape right now, the long term development of the ecosystem is still advancing on pace. Companies and institutions are continuing to invest time and money for furthering cryptocurrency research as can be seen by the stories featured in today’s edition of Bitcoin in Brief.

Dan Morehead, CEO of Pantera Capital, shared his thoughts on the tumultuous cryptocurrency market conditions, outlining that Bitcoin has managed to outperform the company’s Digital Asset Fund in May. He also took the opportunity to criticize Warren Buffet’s overly negative position towards digital currencies.

Bitcoin Beats Diversified Cryptocurrency Basket

Pantera Capital is an investment firm focused on blockchain technologies based in San Francisco. Earlier this week, Dan Morehead, the company’s CEO, toldBloomberg that Bitcoin managed to outperform the firm’s Digital Asset Fund.

In May, the first and foremost cryptocurrency was down about 15 percent, compared to the fund’s decline of 26 percent. Read more...

The struggles of cryptocurrency hedge funds in 2018 seem to have no end in sight. With half of the year almost gone, these crypto-focused hedge funds continue to perform poorly.

Declining Revenues Amid Price Dip

According to the Financial Times, cryptocurrency hedge funds are down by 35 percent so far in 2018. This decline is in stark contrast to 2017 when revenues grew by 2,700 percent. Such was the success of the market that a total of 167 firms were established in 2017 alone. Read more...

Coinbase dominated headlines across the space this week with a pair of significant developments. The San Francisco–based exchange announced on Monday, June 11, its intention to add Ethereum Classic to its trading platform and then quickly followed the news on Tuesday with the official opening of a crypto index fund.

Its addition to the exchange has revamped public interest in Ethereum Classic and sent the price of its native currency, ETC, into a dramatic state of flux. Read more...